Iyong mga naturalised British citizens or former natural-born Filipinos are permitted to own property in the Philippines, subject to the restrictions imposed by Philippine Republic Act 8179 (residential property limited to 1000 square metres of urban land or one hectare of rural land) and Batas Pambansa 185. (business property 5000 square metres of urban land or three hectares of rural land).
Marami kase mga Filipino natatakot mag naturalised dahil baka mawala ang ari-arian nila. In my opinion, if you as the former Filipino bought a real estate BEFORE you become naturalised, it will not be taken from you AFTER you have acquired the new citizenship. If that will be an issue, I suggest that you acquire DUAL nationality (Filipino-British) para walang problema.
Foreign nationals are not permitted to own real estate outright in the Philippines under Philippine law. Land, buildings, condominiums, and townhouses may be owned by Filipinos and former Filipino citizens, as well as Philippine majority-owned corporations.
Foreign nationals may purchase condominium units in Philippine condos (shares in condominium corporations) as long as they do not own more than 40% of the units in a project (Republic Act 4726, otherwise known as the Condominium Act).
For more details, contact an attorney in the Philippines for personal and legal advise.
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